Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to Marquette, Mich.'s series 2014 general obligation (GO) capital improvement bonds. We also affirmed the 'AA' rating, with a stable outlook, on the city's existing GO debt and Marquette Brownfield Redevelopment Finance Authority's debt, supported by Marquette. The city's limited-tax full-faith-and-credit GO pledge secures the payment of principal of, and interest on, the bonds. Marquette is obligated to make payments on the bonds as a first budget obligation from its general funds, including the collection of any ad valorem taxes it can levy. Officials intend to use bond proceeds to finance various capital improvement projects. The rating reflects our assessment of the following factors for the city: Adequate
